Marsh Agrees to Pay New CEO
As Much as $1.95 Million a Year

By

Ian McDonald and

Arden Dale Staff Reporters of THE WALL STREET JOURNAL

Updated Oct. 29, 2004 12:01 a.m. ET

Marsh & McLennan Cos., the embattled financial-services giant, has agreed to pay its new chief executive, Michael G. Cherkasky, an annual pay package of as much as $1.95 million, according to a regulatory filing.

Meanwhile, Marsh's Mercer Inc. unit said it will end a research forum for institutional asset managers because of "changes in...